Hellenic Loan Servicers Association companies settled €1.2 billion worth of loans in Q1 2024, of which €1.1 billion were bilateral agreements and agreements made in accordance with the Katseli law, with the remaining €900 million coming from the out-of-court mechanism.

According to the aggregated data of the association, during the approximately three years of its operation, a total of €15.2 billion of loans have been settled bilaterally.

Around 66,000 applications for debt settlement have been submitted through the Extra-Judicial Mechanism, representing over €32 billion in debt. Debts of €2.5 billion have been settled in multilateral settlements, including loans in the portfolios managed by the DFIs. 

8,500 households have received the vulnerable debtor certificate under Law No. 4738/2020, and the debtors are still processing another 54,000 applications.

Finally, in the area of customer service, the NDRCs have been paying particular attention and have made significant investments in human resources and technological infrastructure, steadily and significantly improving their performance. The level of service (i.e., the number of calls answered in a timely manner) by call centres remained at 90% in Q1 2024, significantly improving compared to the past (in comparison, at the beginning of 2023 the rate was 78%). The improvement in response time to requests submitted was particularly noticeable, which decreased to 10 days on average, down from 25 in Q1 2023. 

It is recalled that the members of the Hellenic Loan Servicers Association manage debts totaling more than €90 billion, involving 2,271,548 debtors, of which more than 80% no longer burden the group balance sheets of Greek banks. 

As noted in a statement, the main priority is to reduce the stock of private debt. Thus, the focus has been placed on the implementation of a series of tools aimed at all categories of debtors. These include electronic information systems (platforms).